Polytec Company News - Take-aways from meeting with the company
We have met with CFO Haidenek and HoIR Rettenbacher. Below we summarise our main take-aways:-Capacity utilisation seems to improve slowly (in 2Q call ~70% CUR for June was mentioned) and hence the trajectory to reach the FY 20 sales target of EUR 520 mn is intact. However, there are considerable variances among the plants (top plants at 85-90%). On a general note the underlying market dynamics in the auto sector are moderately improving while demand from truck makers remains in the doldrums. The company seems very satisfied with the development of the non-auto business, especially with the demand for transport boxes.
Polytec is a globally operating corporation, based in Austria, focusing on the automotive and plastics industries. Co. is engaged in the development and manufacturing of high-quality plastic parts. In the automotive industry, Co. works as supplier of exterior and engine compartment components in the high-volume market segment as well as a supplier of original equipment and components for small and medium series. Co. is active as a full-service provider in the area of injection molding, as a specialist in fiber-reinforced plastic components, as a manufacturer of original accessory parts made from plastic and as a developer of tailor-made industrial solutions made of polyurethane.
The Institutional Equity Research team of Raiffeisen Bank International AG covers 85 stocks from Austria, Central & Eastern Europe with sell-side research and thus levers our local broker status with excellent company relationships. For corporates in Austria, CEE and Western Europe, we offer co-sponsored research, which includes research coverage and marketing activities to investors. Additionally, through our Spotlight Research product we also shed light on leading European small and micro-caps, seeking greater visibility with investors.
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